ICBC Singapore refreshes Fresh Funds FD promo rates from 15 Jan 2026

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ICBC Singapore has refreshed its Singapore dollar fixed deposit (FD) promotional rates for Fresh Funds placements. 🎉

Industrial and Commercial Bank of China (ICBC) Singapore has updated its promotional FD rates for SGD placements with effect from 15 Jan 2026. Under this refresh, the highest promotional rate is 1.35% per annum (p.a.), available on selected tenors and deposit tiers (see tables below). Compared with the 18 Dec 2025 revision, this update reflects a decrease of up to 0.1% for selected tenors, while the top rate of 1.35% remains available for the 3-mth e-banking placement under the SGD200K (inclusive) & Above tier.

At a glance (before placing any FD):

• Fresh Funds only: “Fresh Funds” refers to funds that do not originate from any existing ICBC accounts. For example, transfers between ICBC account(s) would not be considered Fresh Funds.
• Two channels, two minimums: Over-the-counter (OTC) placements start from S$20,000 per tenor, while e-banking placements start from S$500 per placement.
• Tiered rates by amount: Deposits of SGD200K (inclusive) & Above generally enjoy higher promotional rates than amounts Below SGD200K (exclusive).
• Planning tip: Savers who want flexibility can consider “laddering” (splitting funds across different tenors) so part of the money matures earlier while the rest continues earning the locked-in FD rate.

Fixed Deposit Promotional Rates as of 15 Jan 2026

Below are ICBC Singapore’s published promotional rates by channel and deposit tier. Rates are shown in p.a. terms, while the actual interest received depends on the tenor and whether the placement is held to maturity.

🏦 Over-the-Counter (OTC) rates

For customers who prefer face-to-face service at an ICBC Singapore branch, OTC promotional rates are tiered by deposit amount. The minimum placement for OTC SGD fixed deposits under this campaign is S$20,000 per tenor. Larger placements under the SGD200K (inclusive) & Above tier receive a higher rate across the listed tenors.

Who this may suit: Savers placing larger sums who want branch support (for example, account servicing or document verification) may find the OTC route more comfortable. The SGD200K (inclusive) & Above tier provides a clear uplift versus the Below SGD200K (exclusive) tier for the same tenor.

💻 E-banking rates

For customers who prioritise convenience, ICBC Singapore’s e-banking platform offers promotional rates with a much lower starting amount of S$500 per placement. This can be useful for savers who want to start small, diversify across tenors, or place funds quickly once Fresh Funds are credited.

What stands out: The highest headline rate in this refresh is 1.35% p.a., available for the 3 months tenor via e-banking under the SGD200K (inclusive) & Above tier. For smaller sums, the Below SGD200K (exclusive) tier still offers promotional rates across all listed tenors, with e-banking generally matching or exceeding the OTC tier for the same tenor.

How to apply

1. Ensure eligibility and Fresh Funds: Customers should confirm the funds used qualify as Fresh Funds and are credited into the relevant ICBC Singapore account before placing the FD.
2. Choose a channel: For convenience and a low entry point, placements can be done via e-banking. For those who prefer assistance, placements can be done at the counter.
3. Select tenor and deposit tier: Customers can decide whether to place Below SGD200K (exclusive) or SGD200K (inclusive) & Above, then choose the tenor that fits their cashflow needs.
4. Review placement details: Customers should check the rate displayed during placement and the maturity/rollover instructions presented on-screen or by the branch, as these affect what happens when the FD matures.

📝 Maturity & renewal (good to check)

• Maturity instructions matter: Unless other maturity instructions are provided, the principal and interest may be renewed at the bank’s prevailing fixed deposit board rate for the same tenor.
• Partial withdrawals: Partial withdrawal from the fixed deposit is generally not allowed, so funds typically need to be held till maturity to enjoy promotional rates.

Eligible customers can apply online via ICBC Singapore’s e-banking platform. New and existing customers may follow the on-screen instructions to place an e-banking FD once the account is ready and Fresh Funds have been credited.

For customers who prefer in-person assistance, they can visit an ICBC Singapore branch to place an OTC fixed deposit. It is recommended to bring valid identification (such as NRIC or passport) and any documents required for account opening or verification.

To benchmark this offer against alternatives, browse this curated overview of Singapore’s fixed deposit rates. For latest updates, click here.

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